Category Archives: Property

Making A Turnaround In The Conveyancing Process

Property Lawyers In The UK- Making A Turnaround In The Conveyancing Process

Are you sure to manage your property conveyancing without the property lawyers? Well, you are running a real estate business in the UK and have to deal with multiple properties, it is better to seek the guidance from the property lawyers in the UK. Buying or selling a property is altogether a stressful and challenging task. You must be sure of implementing the right tools and resources for handling a conveyancing process. But the services that you can get from the property lawyers in the UK are incomparable and distinguished.

Why Hire The Property Lawyers In The UK?

The property lawyers in the UK provide the efficient and transparent conveyancing services and take the responsibility of managing all the legalities and avoid you from all the sale related issues. You can feel highly safe and reliable on taking the conveyancing from the property lawyers in the UK. Not only they will assist you but also makes you free from all the complexities of a conveyancing process. Even some people have a wrong perception that the property lawyers in the UK cost huge charges, but once you take support from the professional solicitors, you can feel the real difference. In fact, taking conveyancing by your own can be more expensive than hiring the property lawyers in the UK.

How To Choose A Property Lawyer In The UK?

Adopting the property lawyers in the UK is no more a tedious task if you make the right efforts in finding them. It is recommended to look for the experienced conveyancing service providers and to analyze his previous financial record before making any final decision.

So explore the web and find the most feasible and unparalleled conveyancing web service. After making the right decision, you can surely get the fruitful results while connecting to such platforms.

Right property price

How to Set the Right Rent for your Property

Many people have lost a good opportunity to sell or rent a home because they were not informed during their decision making process. One of the most important aspects of putting a property on the market is the amount you ask for it.

Being far too ‘creative’ with setting your rent can hurt you in the long run. It doesn’t benefit you to have your property on the market for several months- empty. For one, you are going to spend more maintaining the upkeep and this could affect the value over time. Not to mention months of no revenue. If you have one month out of 12 empty and the rent is £1200 per month you are making £1100 per month on average. Isn’t it better to set the rent at £1150 and rent it out immediately?

Online property company The House Shop, which has its own valuation service, says homeowners should do proper research about their property and work with a professional to arrive at a price that’s suitable for both parties (landlord and tenant).

The following steps are important to consider when setting a price:

1. Appeal to the general seeker

The property market is not an easy one, and to ensure you are not the only one interested in your property, consider adopting unconventional methods. Do a thorough research on the average rental price for homes in your neighbourhood, and set yours at a reasonably discounted price. This will stimulate the majority of seekers in the area. This method is especially effective when you want to sell or rent away immediately. You might also get a lot of offers if you are selling, and that will force the price up.

2. The right price depends on the desirability of the unit

Always be savvy about setting a price for your various units. It is counter-profitable to fix a one-price fits all for the units in your property, simply because they share the same building. Unless they are exactly the same, you could lose money. Your rent should depend on:

  • The apartment view- does it overlook the sea, or the main city centre?
  • Renovations- have you recently upgraded the unit?
  • Layout- design and plan
  • Floor level- A top floor apartment may be more desirable than a bottom one.

 3. Don’t get too creative with your price

It’s not unusual to see the recommended retail price (rpp) of a flat screen TV set at £799.99. There is a reason for this and it doesn’t exactly work in property pricing. Therefore, I was surprised when a client whose flat, between the range £700 and £800 and month, was asking for £797.97. Setting your rent at such an odd price draws attention, and not in the right way. More like how you would consider an indigo painted house. Keep your price simple, and beware of leaving traces of the ‘seller’ around.

4. Pricing is a continuous discussion

Always pay attention to your agent, they have an in-depth idea of the property markets, so expect to keep a discussion going. Being adamant about your price could hurt you eventually. It is disappointing to have a property sit so long in the market. Open your mind to alternatives, and note that pricing depends on many factors:

  • Other rental prices
  • The nature of your property
  • The market at the time
  • The neighbourhood

By being flexible with your rent charges, you make room for more opportunities and increase your chances of renting.

Buying house with someone

How to buy a property with somebody else

Homeless charity Shelter claims property prices in the UK will jump 23% over the next four years. And that by 2020 first-time buyers will need to earn £64,000 a year to take out a mortgage.

The high cost of housing has already led many first-time buyers to purchase property with parents or friends, says Marylebone estate agent, Kubie Gold Associates.

Anyone buying with somebody else has the option of owning the property as joint tenants or tenants in common.

The type of ownership affects what you can do with the property if your relationship with a joint owner breaks down, or if one owner dies.

Tenants in common

This type of agreement may be more suitable when one of the title-holders does not want the other owner or owners to inherit their share of the property if they die, advises Islington estate agent Mandmproperty.

For this reason, couples where one spouse has children from a previous relationship, unmarried couples, brothers and sisters, parents and children and business partners often choose the tenants in common option when buying a property together.

In legal terms, as tenants in common…

  • Each party can own different shares of the property
  • The property doesn’t automatically go to the other owners if you die
  • It is possible pass on your share of the property in your will

Taking the tenants in common option is also a way for couples who have put unequal amounts of equity into into a property to protect their share in the event of the partnership coming to an end.

In many cases, this can ease the fears of parents who gift substantial deposits to their children so they can buy a home with their partner.

In these circumstances, the property can be held as tenants in common with a document showing one owner put in 70% of the deposit and the other owner 30% and in the event of a separation and sale the initial deposits should be returned as such.

Joint tenants

Owning a home as joint tenants, on the other hand, can work best for couples who want the whole property to pass to the other if they die, with no trust needed or anyone else having any interest in the home.

The advantages of becoming joint tenants, sometimes called beneficial joint tenants, are…

  • The joint owners have equal rights to the whole property
  • The property automatically goes to the other owners if you die
  • It is not possible to pass on your ownership of the property in your will

Whichever option owners choose, the Land Registry must be informed when the property is registered, says central London property business Plaza Estates.

Change of circumstances

The type of ownership can be altered if circumstances change.

In the event of joint tenants divorcing or separating and one party wanting to leave their share of the property to a third party in their will, it is free of charge to change the ownership status to tenants in common.

And if tenants in common decide to marry and want equal rights over the whole property, it is also free of charge to change the ownership status to joint tenants.

It is also possible to change from sole ownership to tenants in common or joint tenants.